Dublin houses cost 30% above average

House prices in Dublin are soaring and are almost a third above the national average, with the gap expected to widen before the end of 2014.

Other urban centres, such as Cork and Galway, are also set for higher prices this year, but the market remains stagnant elsewhere and has yet to bottom out.

Although the rate of decline outside Dublin continues to moderate, this year will see a growing divergence between house prices there and the rest of the country with the shortage of homes in the capital fuelling demand.